In this study, relationship between inflation and inflation uncertainty is analyzed using Granger causality tests with annual inflation series covering the time period 1923 to 2012 for Turkish Economy. Inflation uncertainty is measured by Exponential Generalized Autoregressive Conditional...

The objective of this paper is to examine the impact of inflation gap from target, deviation from targeted inflation, to nominal interest rate decision of Central Bank of Republic of Turkey (CBRT) in Turkey. Recently, ıt is discussed whether inflation target (IT) regime is the only method to...

The goal of this study is to test the implication of Mankiv’s (1987) optimal seigniorage theory suggesting that in the long run higher tax rates are associated with higher inflation rates and higher nominal interest rates for Turkish Economy using time series dataset for the time period...

A fter the oil crises and collapse of Bretton Woods system, the inflationary process made price stability the main objective of central banks at 1970s. Central banks have begun to implement monetary policy by rule not by discretion with the effect of monetarist thought, mainly associated with...

Abstract: In this study, the relationship between inflation and inflation uncertainty is analyzed using Granger causality tests with annual inflation series covering the time period 1923 to 2012 for Turkish Economy. Inflation uncertainty is measured by Exponential Generalized Autoregressive...

This study analyzes the nonstationarity of per capita real GDP for 11 Middle East and North Asia (MENA) Countries over the period 1970 to 2012 using two recently developed methods. SURADF and CADF panel unit root tests allowing for cross sectional dependence are used to determine whether output...

This study of regional South-South (S-S) trade and cooperation in East, South and South-East Asian countries (ESSEA) aims to provide an economic rationale for S-S trade; shed some light on the extent and pattern of S-S trade in the ESSEA region; examine the dynamic forces behind the expansion of...

After ten years of Asian crisis, it is still unclear what the roots of crises are really. This paper seeks to the explanation of the evolution of the capitalism system in Indonesia for gaining an important indication of the root of crisis as well as the future risk of crises of the Indonesia’s...

In this paper, we provide a characterization of interim inefficiency in stochastic economies of overlapping generations under possibly sequentially incomplete markets. With respect to the established body of results in the literature, we remove the hypothesis of two-period horizons, by...

This paper presents a modified national accounting system tailored to a description of Research and Development (R&D)in the national economy. The main differences with the standard national accounts are some changes in the basic concepts (e.g. own-account production of R&D is considered as...